A BILL TO BE ENTITLED
AN ACT authorizing the city of winston‑salem to sell real property for the purpose of increasing the supply of affordable housing for low‑ and moderate‑income persons.
The General Assembly of North Carolina enacts:
SECTION 1.  The governing body of a municipality may, with or without consideration and upon such terms as it deems wise, sell real property for the purpose of increasing the supply of affordable housing for low‑ and moderate‑income persons. The deed conveying the property may contain a restriction that provides for the return of the property to the municipality if it is no longer used for increasing the supply of affordable housing for low‑ and moderate‑income persons prior to the expiration of the time period required by the governing body. Any conveyance under this section may be made only pursuant to a resolution adopted by the governing body at a regular or special meeting authorizing the appropriate municipal official to make the conveyance for the purpose of increasing the supply of affordable housing for low‑ and moderate‑income persons. The resolution shall be posted on the municipality's Web site at least 10 calendar days prior to the date the sale is finalized.
SECTION 2.  This act applies to the City of Winston‑Salem only.
SECTION 3.  This act is effective when it becomes law.